This card shows the average net assets in every condition

Your assets are the difference between what you have (assets) and what you owe (liabilities). This number is important because it offers a clear snapshot of her entire financial health. By persecution of your net assets, you can determine whether you build up prosperity or accumulate debts over time.

According to the 2022 survey of the Federal Reserve 2022 for consumer finances (the latest available survey), the medium net wealth for all families in the USA is $ 192,300. The medium (or average) net value is 1.06 million US dollars.

Several factors can affect their net assets, including their apartment. Curious how your comparison is comparable to the rest of the country? Learn more about the average net assets in every condition and why it is different.

The following card shows both the median and the middle numbers for net assets in every condition.

Remember that the mean/average can be distorted by extremely wealthy people. For this reason, it is helpful to look at the median that refers to the middle number in a sorted data set – exactly half of the data points are above and half below. The median is less affected by extreme outliers, so it gives a more realistic picture of the typical net assets of a typical person.

Why does Net Worth varies so much between the states? There are several factors that can affect typical assets in a certain area:

• Living costs: Higher living costs in some states make residents more difficult to save or invest because more of their income is created for the payment of basics.

• Property values: Equity often makes up most of the assets. In states with higher property values, net assets also tend to distort.

• Income: States with higher incomes on average typically also have a higher average net assets.

• Local economy: Strong economies and more employment opportunities in certain states tend to have a positive impact on the general well -being of financial well -being.

Hawaii is the state with the highest assets in which the median is 472,600 US dollars. Although Hawaii has higher living costs than most other countries, according to Empower, the average salary is also high at $ 65.030. In addition, homeowners enjoy increased real estate values. According to Zillow, the average house value in Hawaii is $ 841,274 compared to the national average of $ 361,263.

The second highest medium-sized net assets in the USA belongs in Washington with $ 375,100. The average ratio of debts to income (DTI) in Washington is around 1.5, which is considered moderate compared to other countries. The average content in Washington is also $ 78,130, while the average real estate value is 603,837 $ – almost twice as high as the national average.

The residents of Massachusetts have an average net value of $ 308,400 thanks to lower debts and higher income and home values. The average DTI in Massachusetts is 1.2, while the average salary is one of the highest on our list at 80,330 US dollars. The average real estate value in the state is $ 635,252.

4. Maine: $ 307,100

Maine residents have an average net wealth of $ 307,100 with an average DTI of 1.48. The average content in Maine (60,000 US dollars) is on the lower end compared to other conditions. The real estate values ​​are also lower compared to other countries, but at $ 400,642 they are still well above the national average.

In Utah, the residents have an average net wealth of $ 305,600. The average DTI in Utah is 1.8 and the average income is $ 61,070. Utah has the third highest real estate value on this list at $ 530,787.

Read more: How much money is considered rich?

West Virginia is the state with the fifth lowest mean net wealth of $ 96,740. The average DTI in West Virginia is almost 1.2 and the average content of $ 52,200. The average real estate value is $ 167,589, which is less than half of the national average.

In Arkansas, the mean net wealth is $ 93,480 – less than half of the national average. The average DTI is 1.2 and the average salary is $ 51,250. The real estate values ​​in Arkansas are slightly higher than West Virginia at 210,633.

In Alabama, the mean net wealth is 90,200 US dollars – also less than half of the national average. The average DTI in Alabama is over 1.3 and the average salary is $ 53,400. Although the homeowners in Alabama have lower average salaries and a higher level of debt, they have a slight advantage compared to the two previous countries, since the average real estate value is 228,669 USD.

Mississippi has an average net wealth of $ 82,440. The residents have an average DTI of 1.4, while the average salary is $ 47,570 at the lower end. Real estate values ​​in Mississippi are on average the lowest of the country with $ 181,232.

The state with the lowest net assets is Louisiana with an average net wealth of $ 71,900. The average content in Louisiana is $ 53,440 and the average DTI 1.3. On the bright side, real estate values ​​in Louisiana rose by 0.4% compared to the previous year, the average real estate value is $ 201.100.

If your net assets no longer make these average values, don't worry. Your net assets will change over time if your financial situation develops. And it is never too late to make positive changes that lead to higher assets.

For example, consider paying your high debts. Liabilities such as credit card credit and loans can significantly reduce your net assets, even if you achieve a decent income.

If you are looking for additional options to earn and expand your income, e.g. B. an increase or an ancillary employment, you can increase your savings and pay off debts.

Do you need more ideas? Here are 6 ways to increase your net assets.